基于法定碳排放权配额经济实质的碳会计构想

我国碳会计的发展急需突破理论认识和实践设计上的瓶颈。立足于法定碳排放权配额的经济实质,通过考察我国碳排放权交易依托的"总限-交易制",提出"二元观"理论视角,将法定碳排放权配额理解为:依法实施碳排放的权利以及与之相对应的遵从法定配额进行碳排放的义务。由此,将企业获得的法定碳排放权配额等量地确认一项资产"碳排放权—法定碳排放权"和一项负债"应缴碳排放权—法定配额义务",建立逐期核销机制,以及按碳排放权配额的交易、清缴和结余等实际管理情境开展核算。这一碳会计方案,可契合"总限-交易制"的环境管制和外部环境成本内部化的经济实质,预期可助力企业低碳转型和国家碳市场建设。     

碳金融:原理、功能与风险

<正>一、引言全球气候变化是人类迄今面临的最重大环境问题,解决气候变化问题的根本措施是减少二氧化碳（CO₂,简称碳）的排放。自2005年《京都议定书》生效以来,碳排放权成为了一种稀缺资源,作为价格信号激励企业加大节能减排领域的研发与投资,以控制温室气体的排放。碳交易市场的快速发展衍生出与碳交易相关的金融需求,碳金融应运而生。碳金融是实现低碳经济的必要条件,而非充分条件。在金融危机的背景下,短期来看,碳     

未雨绸缪“碳金融”商机

清洁发展机制是发展中国家与发达国家之间的合作机制。它允许发达国家在发展中国家投资温室气体减排项目,由此产生的经核证的减排量（CER）可以抵免本国所承担的减排义务。     

未雨绸缪“碳金融”商机

清洁发展机制是发展中国家与发达国家之间的合作机制。它允许发达国家在发展中国家投资温室气体减排项目,由此产生的经核证的减排量（CER）可以抵免本国所承担的减排义务。     

国内外碳金融发展的实践与建议

近年来,随着低碳经济的兴起,碳交易市场迅速发展,服务于碳排放交易的金融业务和衍生产品应运而生,成为世界各国金融界关注的焦点。我国作为全球碳市场最大的碳资源国家,无疑将成为国际碳金融市场上重要的参与者。如何顺应全球低碳革命和低碳金融发展的大趋势,充分发挥低碳金融在推进低碳经济发展中的作用,把我国发展成为全球主要的碳金融集散地和最具全球影响力的碳金融中心,形成我国金融产业新的增长点,并通过碳金融实现人民币国际化,是需要我们深入研究的重大问题。     

国外碳金融市场的发展及对我国的启示

目前,国际碳金融发展快速,一些国家关于碳金融展开了研究、交流与合作,碳金融市场的发展为控制温室气体排放提供了一种有效的方法,同时也提供了一种市场化手段。本文引入了碳金融市场的发展状况,介绍了国外碳金融市场发展的特点,分析了我国碳金融市场的现状,提出了借鉴国外碳金融市场发展经验来推动我国碳金融市场发展的建议。     

英国“碳底价”政策对完善我国碳定价机制的启示

碳定价被认为是实现气候目标最有效的市场化途径。英国为填补欧盟碳排放交易体系（EU ETS）配额价格过低的缺陷,实现其低碳投资目标,于2013年引入了碳底价机制。本文通过深入分析英国碳底价政策实施经验,包括政策实施背景、运行机制、费率设定、税收收入和配套措施等主要内容,及实施成效与争议,在分析我国碳市场运行初期面临的交易不活跃、碳价水平不稳定等问题基础上,提出我国可视情况引入碳底价政策,建立合理碳交易收入利用机制及加强政策协同等建议,以期为我国进一步完善全国碳市场建设提供有益参考与借鉴。     

碳排放交易机制对我国建设“低碳城市”的启示

碳排放权交易已成为国际社会推动全球节能减排的重要手段,我国也在积极探索建设国内的碳排放市场．这些都为地方政府建设“低碳城市”提供了有益的借鉴。要通过创建区域内的碳交易试验平台、构建完善的碳交易信息平台、建立碳交易的法律保障机制等措施,利用经济手段解决经济发展与环境保护的矛盾,以市场手段来推动“低碳城市”的建设。     

试点地区向全国碳市场过渡的障碍

2015年12月联合国气候大会召开前,中国明确提出计划于2017年启动全国碳排放交易体系,届时将覆盖1万家企业,覆盖31个省市区的6个工业部门(电力、钢铁、水泥、化工、有色、石化),并将覆盖每年约40-45亿吨的碳排放,占全国碳排放量的近50%,中国的碳市场将成为全世界最大的碳交易市场。2011年10月底,国家发展改革委批准了7个省市(北京、天津、上海、重庆、湖北、广东及深圳)开展碳排放     

发展碳期货市场应对气候变化

当前全国统一碳排放权交易市场正在建设中,借鉴国际碳期货发展经验,可加快推进碳期货等衍生品的相关筹备工作,积极助力国家应对气候变化挑战。一是充分发挥碳市场的减排效用。建立碳排放权交易市场,采用总量控制和交易的方式来进行节能减排,是减缓气候变暖的有效手段。     

碳配额与补贴政策下企业减排和社会福利的比较研究

为应对气候变化,世界各国将减少二氧化碳排放作为重要任务和工作。构建碳交易市场,允许企业在碳市场进行买卖,可以促进企业减少碳排放,从而对企业在生产过程中的碳减排起到激励作用。本文结合中国碳市场运行环境,构建双寡头企业生产约束下的一般均衡模型,分别对碳配额政策及补贴政策给企业生产经营决策造成的影响进行研究,并通过数值算例分析社会福利最大化情形。研究结果表明:第一,双寡头企业在生产减排博弈过程中,依据各自边际净化成本倾向不同,会产生较大的净化减排量差异,边际净化成本倾向和净化减排量成反向变动。第二,在补贴政策下,企业受到政府补贴激励,会促进其提高自身减排能力获得补贴收益,且寡头企业间的净化水平竞争有利于提高行业整体净化水平。第三,碳配额政策对社会总体福利更优,而补贴政策将使企业获得更高产量且总体净化减排量更高。     

The chasm ahead

When President Nixon returned from his European tour, he strongly urged the creation of a committee on the challenges of modern society, placed under deputy foreign ministers, whose task would be to “explore ways in which the experience and resources of the Western nations could most effectively be marshalled toward improving the quality of life of our peoples”. Such thinking is indicative of the new administration's awareness of the USA's responsibility in preventing the technology gap developing into an unbridgeable chasm. A most important new book^* suggests that true Atlantic solidarity, beyond mere lip service, would be the basis of a wider platform of co-operation between North America, Europe, the Soviet Union, and Japan, capable of dealing with a global problem in an integral way.     

世界银行提高大借款国的贷款限额

世界银行降低了贷款费用.并把对单一国家的贷款最高限额提高了10亿美元,提高至145亿美元,反映出其财政能力的提升。由世界银行执董会批准的这一决定影响到从世界银行集团机构之一国际复兴开发银行(IBRD)借款的国家,国际复兴开发银行专为中等收入国家提供贷款。     

Looking ahead: implications of the present

On its seventy-fifth anniversary, HBR asked five of the business world's most insightful thinkers to comment on the challenges taking shape for executives as they move into the next century. In "The Future That Has Already Happened," Peter Drucker examines the effects of the increasing underpopulation of the world's developed countries. With growing imbalances in labor resources worldwide, he writes, executives in the developed countries will need to improve the productivity of knowledge and of knowledge workers to maintain a competitive advantage. Esther Dyson's article "Mirror, Mirror on the Wall" reveals the mind shift executives will need to make in a networked world, where companies will be known for what they do rather than for what they say. Executives will have to respond openly and intelligently to feedback about their organizations. The old language of property and ownership no longer serves executives, writes Charles Handy in "The Citizen Corporation." The corporation should be thought of no longer as property but as a community, where members are regarded as citizens. Technology has given executives more information than today's machines can help them understand, explains Paul Saffo in "Are You Machine Wise?" Machine-wise executives will know when to turn their computers off and take their own counsel, he writes. Peter Senge's article "Communities of Leaders and Learners" urges executives to reject the myth of leaders as isolated heroes and instead to build a community of leaders. Sustained institutional learning, he writes, requires organizations to reintegrate their typically fragmented learning processes.     

顾客满意指标体系设计

顾客满意是企业关注的一个重要方面，因而需要利用顾客满意指标体系对其进行度量与反映。顾客满意指标的设计过程需要经过初选、调查和统计分析与析取。     

The Effects of Abolishing a Foreign Institutional Investment Quota in Taiwan

Policies regarding the globalization of financial markets have long been investigated with conflicting results. This paper employs an event study approach with the EGARCH process to examine the effects of lifting restrictions on qualified foreign institutional investors in the Taiwanese stock market. The empirical results indicate significant differences in the behavior of stock returns in the electronics, financial, and other nonfinancial sectors, both on and after the abolition of Taiwan's investment quota. In addition, the volatility of stock returns in the electronics sector increases following the event. Foreign ownership provides some additional explanatory power for electronics and other nonfinancial stocks in the short run.     

Export Quota Allocations, Export Earnings, and Market Diversification

Countries facing voluntary export restraints (VERS) often adopta two-tier allocation system for export licenses to the restrictedmarket; (1) a "basic" allocation related to export shares tothe restricted market; and (2) an "open" allocation based onexport shares to the nonrestricted market. Such a two-tier allocationsystem increases exports to the nonrestricted market beyondthe levels which would exist under a single-quota allocationsystem and has an efficiency cost as it results in some salesbeing made at less than marginal cost. The history of VER negotiationsprovides a rationale for such a policy and suggests that therecent increase in antidumping cases may be partly associatedwith the adoption of two-tier quota allocation systems.